Medical Marijuana, Inc. Subsidiary Kannaway Signs Trademark License and Royalty Agreement with Direct Selling Pet Food Company, Onboards Company's Brand Ambassadors
SAN DIEGO, CA, Sept. 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Medical Marijuana, Inc. (OTC: MJNA) (the “Company”), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced today that its subsidiary Kannaway has signed a Trademark License and Royalty Agreement with direct selling company The Best Friend (“TBF”).
As a part of the agreement, the new venture, TBF by Kannaway, will sell a super-premium line of veterinarian-developed pet food products, as well as a line of cannabidiol (CBD) tinctures designed for pets, throughout Europe.
These pet food products are created by a research and development team composed of world-renowned premium dog breeders, scientists and veterinarians. They have been designed to meet the strictest requirements for quality, nutritional value, consistency, digestibility, and have a low risk of allergy reactions. The new line of TBF best-selling super-premium feeds includes:
• Beef & Rice 3kg
• Lamb & Rice 3kg
• Junior Complex 3kg
“CBD hemp oil has been researched by top veterinarians to improve cardiovascular, orthopedic and mental animal health,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “We’re excited to be able to offer some of the highest-quality pet food products in Europe and soon launch a new line of CBD products that can nicely supplement them.”
Brand ambassadors who were previously selling TBF products exclusively will now market and sell The Best Friend by Kannaway as well as other CBD products through Kannaway’s expansive direct selling network.
“According to Grandview Research, Europe’s market for pet food in 2018 was the largest pet food market in the world and that growth only continues with a global pet food market that is expected to reach $113.08 billion by 2025,” said Kannaway CEO Blake Schroeder. “Joining forces with TBF will not only allow us to expand our product offering and gain an entirely new subset of customers, but it will also allow TBF distributors to earn another source of revenue.”
TBF was founded just 13 months ago by Tobias Sukenik, Michal Kyselica and Michal Prazenica, and has already achieved tremendous growth. Currently, TBF has over 10,000 registered partners in 6 countries, making it one of the fastest-growing pet direct selling companies in Europe.